Metro Property Development has unveiled plans for a 30-storey, 376-apartment residential development on a newly-acquired site in the heart of Brisbane’s cultural precinct.
The Brisbane Casino Towers project will be launched in mid June after Metro acquired the site at 19 Hope Street in March for $18.75 million.
The project’s name is derived from the fact it will overlook the planned new casino development at Queens Wharf in the Brisbane CBD.
The development will include 197 one-bedroom apartments; 47 two-bedroom, one-bathroom apartments; 129 two-bedroom, two-bathroom apartments and three penthouses.
ALSO SEE: Metro Plans 400 Apartments For South Brisbane Hotspot
Apartments will start from $425,000 with the largest penthouse priced at $1.37 million.
Metro last week finalised the purchase of a separate residential-zoned site in nearby Manning Street where it is planning a 400-apartment development. Plans for the 30-storey tower will be submitted for Development Approval in June.
Metro Managing Director Luke Hartman said South Brisbane was one Brisbane’s best performing markets.
“We think there is still an under supply of apartments in the area and there will be plenty of demand for affordable, quality product that is sophisticated and stylish,” Luke said.
The Brisbane Casino Towers project was designed by Brisbane firm ML Design and includes a common use pool, gymnasium, barbecue and entertaining area and a 5-star lobby.
Metro Property Development Chairman David Devine said Brisbane Casino Towers would set a new benchmark for development in South Brisbane.
“It is an extraordinary site overlooking the Gallery of Modern Art (GOMA) and the cultural precinct and is within easy walking distance to the CBD and Southbank,” he said.
“The low built profile of GOMA and State Library buildings means the city views will never be built out or inhibited,” David said“The site demanded we go the extra mile in terms of design so we have put a lot of work into creating an elegant and stylish lobby which will make residents feel like they are coming home to a five star hotel.”
Brisbane Casino Towers will be the latest in a string of new developments in South Brisbane that have established the suburb as one of the city’s most sought-after addresses.
Metro’s 168-apartment, 12-level The Plaza development on the corner of Russell and Manning streets in South Brisbane (pictured) was one of company’s most successful projects.